India Energy Week: Cairn dives into deepwater exploration with KG basin

Vedanta-backed firm plans to rope in global players for offshore drilling

In a major foray into deepwater exploration, Cairn Oil & Gas is planning to drill five-six wells in its offshore KG basin block by next year, and the wells could hold a billion barrels of crude oil, Chief Financial Officer (CFO) Hitesh Vaid told Business Standard.

 

As part of the foray, the upstream company is aiming to sign up major global project management, engineering and construction companies in the energy domain, including Petrofac, Technip, and OneSubsea, to execute the project, Vaid said on the sidelines of the ongoing India Energy Week.

 

Part of the Vedanta group, Cairn had acquired the